Solana Foundation, Polygon Lead $30M Fundraise for Web3 Firm Cosmic Wire

Cosmic Wire, a Web3 startup offering a wide range of infrastructure products, has raised $30 million in a seed funding round led by the Solana Foundation, the non-profit firm dedicated to spreading adoption of the Solana ecosystem, and Polygon.

The crypto-related offerings from Miami-based Cosmic Wire include world-building 3D architecture tools and artificial intelligence-backed avatars for metaverse creation. The startup also offers a number of blockchain solutions, including analytics, digital identity management, smart contract development tools and chain-agnostic marketplaces, according to a product list provided to CoinDesk by a Cosmic Wire representative.

"We are very excited for Cosmic Wire's Web3 infrastructure to be built on the Solana network," said Johnny Lee, general manager of games, entertainment, and media at Solana Foundation, in a press release. "Their metaverse SDK solutions significantly reduce development times of high-fidelity, 3D, browser-based metaverse experiences with e-commerce of both physical web3 digital products, content CDNs [content delivery networks], payment solutions and avatar UGC [user generated content] all integrated,” Lee added.

Cosmic Wire has also been selected as participant in Google Cloud's Web3 startup program, which aims to provides support for startups and emerging projects, including Web3 industry, to scale their projects faster and more securely. The program will help Cosmic Wire to gain "exclusive access to customized resources, including a substantial allocation of Google Cloud credits for a two-year period, unparalleled entry into Google's Web3 ecosystem, and a range of complimentary benefits."

Read more: Google Cloud to Help Web3 Builders Fast-Track Their Startups